On March 22, 2023 at 11:37:04 ET an unusually large $402.50K block of Call contracts in Valaris (VAL) was sold, with a strike price of $65.00 / share, expiring in 149 days (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.00 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in VAL options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 43.30% Upside
As of March 21, 2023, the average one-year price target for Valaris is $92.67. The forecasts range from a low of $82.82 to a high of $103.95. The average price target represents an increase of 43.30% from its latest reported closing price of $64.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Valaris is $1,882MM, an increase of 17.44%. The projected annual non-GAAP EPS is $3.60.
What is the Fund Sentiment?
There are 302 funds or institutions reporting positions in Valaris. This is an increase of 30 owner(s) or 11.03% in the last quarter. Average portfolio weight of all funds dedicated to VAL is 0.93%, an increase of 8.98%. Total shares owned by institutions increased in the last three months by 2.14% to 63,945K shares. The put/call ratio of VAL is 1.87, indicating a bearish outlook.
What are Large Shareholders Doing?
Oak Hill Advisors holds 9,425K shares representing 12.54% ownership of the company. No change in the last quarter.
Orbis Allan Gray holds 3,539K shares representing 4.71% ownership of the company. In it’s prior filing, the firm reported owning 3,336K shares, representing an increase of 5.74%. The firm decreased its portfolio allocation in VAL by 12.26% over the last quarter.
Elliott Investment Management holds 3,450K shares representing 4.59% ownership of the company. No change in the last quarter.
Goldentree Asset Management holds 3,382K shares representing 4.50% ownership of the company. In it’s prior filing, the firm reported owning 4,975K shares, representing a decrease of 47.12%. The firm increased its portfolio allocation in VAL by 13.96% over the last quarter.
Lodbrok Capital LLP holds 3,000K shares representing 3.99% ownership of the company. In it’s prior filing, the firm reported owning 3,427K shares, representing a decrease of 14.24%. The firm decreased its portfolio allocation in VAL by 34.29% over the last quarter.
Valaris Background Information
(This description is provided by the company.)
Valaris Limited provides offshore contract drilling services. The Company owns, operates, and manages rig fleets and provides drilling services. Valaris serves customers worldwide.
This article originally appeared on Fintel
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